Fast food chain Wow! Momo today said it has raised Rs 44 crore in series B funding from venture capital firm Lighthouse Funds and angel investor group Indian Angel Network (IAN).
The latest round of funding led by Lighthouse Funds, which invests in mid-market consumer-driven firms, values the company at Rs 230 crore, the Kolkata-based firm said in a statement.
Besides, it also provided "a highly profitable" exit to the tune of Rs 10 crore to some of the IAN investors who decided to sell their shares partly/completely to Lighthouse, it added.

Wow Momo, which currently has 117 company-owned and operated stores across eight cities, is targeting to be in 180 cities over the next 12 months.
Kolkata-based Wow Momo Foods, which owns and operates quick service restaurant brand Wow Momo, has raised Rs 44 crore in a Series-B round from investors led by venture capital firm Lighthouse Funds.
The latest equity financing round, which values the company at Rs 230 crore, has seen the company's first backer Indian Angel Network (IAN), the oldest and largest angel investor group in the country, partially exit the restaurant chain in less than two years.

Kolkata: City-based fast food chain Wow! Momo is planning to tap the export market with frozen momos. The founder of Wow! Momo, Sagar Daryani, told TOI that they have decided to venture into Europe and the US following creating a strong footprint in the domestic market.
According to him, Wow! Momo has decided to set a momo plant at the Kasba Industrial Estate for exporting frozen momo to the UK and the US initially. The firm is investing Rs 10 crore for the project.

India-focused mid-market private equity firm Lighthouse Advisors India Pvt. Ltd is investing in an eastern India-based quick service restaurant chain, at least two people privy to the development told VCCircle.
Lighthouse, according to one of the persons mentioned above, is going to pick up a minority stake in Wow! Momo Foods Pvt. Ltd, the Kolkata-based chain of quick service restaurants. “The company is raising over Rs 40 crore ($6 million) in this round,” he added.